This sounds good. What system do you use? This is a custom keyboard setting then, right?
It's described as "QWERTY for Western European languages" and supports quite a few characters with simple AltGr (right alt) key combos. Alt+o = ö Alt+a = ä
(American living in Europe, I haven't wanted to move from US QWERTY physical layout, but needed an extended character set in daily use)